Brand Strategy for Medical Devices

Strategy and Research | Healthcare Solutions

The Situation

ASK THE RIGHT QUESTION FIRST

Brandsymbol collected qualitative information from 67 key stakeholders across all six business units & all seven global regions to optimize this medical device manufacturer’s brand architecture. Based on these insights, the perceived problem –  7 specific & seemingly unrelated naming issues – was redefined as a broad, 3-part problem, comprising:

  • Deficient brand strategies – product, marketing & pricing – that provided unclear direction
  • Poorly defined, aligned & controlled brand architecture that confused customers & distributors
  • Unclear, inconsistent & non-compelling brand identity due to: 1) variable brand strengths across portfolio; & 2) product name suffix constraints, conflicts & confusion

The Solution

EMPLOY THE RIGHT METHODOLOGY

Brandsymbol analyzed existing numerical data & primary research data from its online survey to verify qualitative feedback using its proprietary CRITERIA FOR SUCCESS SCORECARD. This detailed, quantitative scorecard uncovered a wealth of meaningful insights, including:

STRATEGY INSIGHTS

  • “Too many Company products” was the strongest survey response; 73 actual, NOT 43 expected, products
  • Names & some brands cannot meet unrealistic expectations
  • Growing number of products & prices increases conflicts between alphanumeric suffixes & prices

 

ARCHITECTURE INSIGHTS

  • “One Business Segment, One Brand“ structure means new brand permissible only with new Segment
  • Under 25% of sales in two key business segments comes from primary Category Brand
  • Process clarification & control needed to correct unclear & inconsistent naming

 

IDENTITY INSIGHTS

  • Largest company brand diluted since over half the product portfolio carries this brand name
  • Three of five product name suffixes are ineffective & inconsistently utilized
  • Numerical descriptors provide short-term evolutionary relief with little resistance; while word descriptors provide long-term, complete relief by eliminating all name-price conflicts

The Success

GET THE RIGHT ANSWER LAST

Based on key insights from its qualitative & quantitative analyses, Brandsymbol recommended an optimal branding solution that quickly generated client CEO approval, & widespread executive support (described as violently enthusiastic), throughout the organization. This plan effectively & efficiently addressed all initial problems with:

 

STRATEGY SOLUTIONS

  • Long-term product strategy definition proposal to address strategic deficiencies
  • Marketing strategy: Name identifies product, while brand communicates benefits
  • Long-term pricing strategy definition proposal to address strategic deficiencies

 

ARCHITECTURE SOLUTION

  • Redefine & restructure architecture to include multiple, relevant dimensions
  • Realign architecture sectors & brands within multi-dimensional architecture
  • Standardize & streamline naming methodology: 145 product names reduced to 48

 

IDENTITY SOLUTION

  • Brand-specific development plans for established vs. emerging brands
  • Suffix standardization & simplification corrects:
  • Number-name conflicts: standardized, alphanumeric price tiers, & eventually word descriptors • Constraints: double-digit name suffixes & word descriptors increase capacity
  • Confusion: name suffix components consolidated & clarified